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First Look As oil revenues slump, Saudi Arabia cuts public salaries for the first time

In Saudi Arabia, ministers' salaries will be reduced by 20 percent while lower-ranking civil servants will see wage increases suspended.

Yoan Valat/AP/File

The Saudi government announced the first ever pay cuts to public sector employees in an attempt to curtail high state spending as oil, the driving force behind the nation’s economy, brings in lower revenues.

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